Stocks in news: Jio Financial Services, RIL, Vodafone Idea, Punjab & Sindh Bank, Crisil, JSW Infra & Cipla

Stocks in news: Jio Financial Services, RIL, Vodafone Idea, Punjab & Sindh Bank, Crisil, JSW Infra & Cipla

Stocks in the news: After a day of sharp fall, domestic stock indices will brace for another weak session on Tuesday, as Asian markets dropped in the morning trade on geopolitical concerns and concern over global health, tracking an overnight decline in US stocks. Analysts such as Sameet Chavan of Angel One said it is prudent to keep track of developments regarding geopolitical concerns and refrain from aggressive bets, as volatility is likely to spike in the coming period. Any rise should be seen as an opportunity to exit longs and avoid fresh long bets till the volatility subsides, he said. Here is a list of stocks that would be in focus today:

Reliance Industries Ltd (RIL): RIL shares will be in focus as its board would meet on Monday, April 22, 2024, inter alia, to consider and approve the standalone and consolidated audited financial results of the company for the quarter and year ended March 31, 2024. I will also recommend dividend on equity shares of the company for the financial year ended March 31, 2024. A presentation to analysts and media on financial results of the Company for the quarter and year ended March 31, 2024 shall be made on the same day after the meeting.

Vodafone Idea: The telecom operator would be rolling out 5G services in six-nine months after the company completes its equity funding round of Rs 20,000 crore this quarter, ET reported its CEO as saying.

Jio Financial Services Ltd: JFS announced an agreement with BlackRock Inc and BlackRock Advisors Singapore to establish a 50:50 joint venture. The aim is to launch wealth management and broking services, as disclosed by the company in its filing to the exchanges on Monday.

JSW Infrastructure Ltd: The company has re-appointment of Arun Maheshwari as the Joint Managing Director & CEO. Besides, it appointed Anoop Kumar Mittal as an Additional and Independent Director.

Gujarat Gas, IOC:  Gujarat Gas and Indian Oil Corporation Ltd (IOCL) have signed a non-binding Memorandum of Understanding (MOU) to broaden the scope and accessibility of energy solutions for consumers. This significant alliance between two major players in the energy sector is set to deliver an extensive range of products and services throughout GGL’s authorized area.

Cipla: The domestic drugmaker said its wholly owned subsidiary and consumer healthcare arm Cipla Health has signed a business transfer agreement for the purchase of the distribution and marketing business undertaking of cosmetics and personal care business of Ivia Beaute Private including Ivia’s brands namely Astaberry, Ikin and Bhimsaini on a worldwide basis. The cost of acquisition will be Rs 130 crore on the closing date.

Punjab & Sindh Bank: The bank has appointed Prem Chand Kumar as  Chief Technical Officer for a period of three years. Kumar started his banking career with State Bank of India as Deputy Manager (Systems) in the year 1998. Prior to his joining in Punjab & Sind Bank, he was Advisor to GM (YONO) IT department with SBI.

Den Networks, Crisil, SG Mart: A haldful companies including  Crisil Ltd, Den Networks Ltd and SG Mart, would be in focus, as they declare their March quarter results Tuesday.

Ashok Leyland: The board of directors of Hinduja Tech Limited, subsidiary, at their meeting approved allotment of Compulsorily Convertible Preference shares and Equity shares to the investors.

Manappuram Finance: The gold loan company is planning to raise funds up to a principal aggregate amount of up to $500 million, in one or more tranches, by way of external commercial borrowings in the form of US Dollar bonds and/ or any other form as per the applicable guidelines issued by the Reserve Bank of India. A meeting of the Financial Resources and Management Committee of the board of directors of the company will be held on April 19, 2024 to consider the same.

Integrated Industries Ltd: This stock will turn ex-date for bonus issue in he ratio of 1:1 today. Today is also the record date for the corporate action.

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